Housing prices continue to escalate in Charlotte, NC according to a market conditions report by exclusive buyers agent Julie Tuggle. She estimates that a livable space home purchase is “virtually impossible” under $200,000.
(Charlotte, North Carolina) A real estate consumer called Skyfor’s Buyer Agent Search line this week requesting assistance with finding a buyers agent who would help her purchase a single family home in Charlotte, NC for between $100,000-$150,000. Skyfor referred her to Julie Tuggle, an exclusive buyer’s agent. Julie provided a housing market report, and said she was uncertain she could help this buyer.
The full report is located in the market conditions section of http://buyeragentsearch.com/associations-and-real-estate-agents/north-carolina-buyers-agents/
The unfortunate conclusion of her report for this buyer was that buying a single family home in Charlotte under the $200,000 range was “virtually impossible” She agreed to text this buyer per her request. In her report, Tuggle said that Charlotte was experiencing a minimum of 6 to 8 offers on livable properties. She reported that prices rose very quickly in March. The median price of a home in Charlotte was up 7.2% from a year ago, with an average price of $235,000.
The average price of home in Charlotte area rose over 4 ½% from a year ago to $326,754. She pointed out that the average sales price figure is higher than the median, because it factors in multi-million dollar homes.
Entry level homes are becoming less and less affordable for the average salaried school teacher, firefighter or other service oriented professionals. She stated that the more affordable homes could be found in the southeast and southwest outer regions of the city. She stated, “the average full time worker is being forced to rent”, but that rental prices are also escalating at an alarming rate.
The report offers tips on how those who enter this frenzied market might have a better chance of winning the bid on a single family home or condo that is currently on the market. Tuggle recommends that good agents will have a dialogue with the listing agent to find out what is important to the seller. She recommends that the buyer’s agent always make the offer in person so they can pick up on the nuances of the seller’s wants and needs.
The inventory in Charlotte and neighborhoods such as Belmont, Concord, Cornelius, Davidson, Gastonia, Lake Norman, Lake Wylie, Lincolnton, Matthews, Mint Hill, Monroe, Mooresville, Mount Holly, Mountain Island Lake, Pineville, Troutman, Waxhaw, and Weddington has been in short supply for the past 3 years, driving prices upward. In those areas, it takes an average of less than 50 days for homes to sell.
Skyfor, who also manages the Colorado Exclusive Buyer Agents Association, notes that the Denver and Bolder Colorado markets are experiencing growth similar to Charlotte except that average prices are almost twice as high. Those wishing to consider a real estate home purchase in Colorado may get a free consultation, market analysis and list of buyers agents by phoning the Association headquarters or going to the inquiry page located at https://homebuyerscolorado.org/fanagnt/, or go to Skyfor’s Buyer Agent Search site for market conditions and buyer agent reports on many major metropolitan areas in the United States.
